LAKE FOREST, Ill. – Brunswick Corp. (NYSE: BC) has completed its acquisition of the assets of Marine Innovations Warranty Corp. of Minnetonka, Minn., it reported in a statement today.
Kathy Link, founder of Marine Innovations, will continue as president of newly formed Brunswick Product Protection Corp., a unit of Brunswick Financial Services (BFS), according to Brunswick. Terms of the transaction were not disclosed.
“The strength of its product offerings, market share, strong OEM relationships and dealer confidence were attractive elements of the acquisition,” indicated Gilles Meurice, BFS general manager. “Our programs also include an extensive menu of accessory component packages providing stem-to-stern protection for virtually every size and model boat. We will continue to develop new innovative programs for model year 2005 to further expand our already comprehensive product line.”
In 1996, Marine Innovations was first in the marine industry to offer the Legacy Certified Pre-owned warranty, as well as new coverage for non-defective mechanical breakdowns such as overheating, detonation, pre-ignition, scored pistons, scored cylinders and tuliped valves with the introduction of PassporT PremierE, according to Brunswick.